For a company limited by guarantee, existing for the community - what happens where;
- AGMs haven't been held for at least a year, maybe a few years
- There are no Minutes of previous AGMs
- Number of directors falls below 7 (I read somewhere if insolvent, the directors are liable?)
What should new directors do ? Strangely enough, the accounts are in good-to-excellent shape.
I'm pretty sure CRO is up to date - and see where you're going with this i.e. how can CRO be uptodate if no AGM etc ...
Quick question; we're a company limited by guarantee (managing a community centre) for the benefit of the community, are they our 'shareholders' or do we hold AGMs for just us, the directors ? (That doesn't ring well with me).
Aftere reading around, it would seem that each of the Directors are also 'members' (ie shareholders, if only limited to our e1 contribution).
And that AGMs are therefore for us only.
But will bring it up at the next Board meeting to have an 'open' AGM.
That initial fear of mine, where directors of companies with less than 7 directors, while it may be the case for charities is not relevant for my circumstances anymore so I'll let that question slide ....
Thanks all.
Re audited accounts, yes they are/were. But it was an audit more-or-less performed from his own bedroom - a part-time auditor !
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?